Scam Alert: Crypto Community Warns Users About Fake Arbitrum Airdrops (2024)

FAQs

How do you know if an airdrop is real or fake? ›

Verify Authenticity

Check the official website and social media channels of the project. Legitimate projects will have clear information and a track record. If an airdrop is announced, it will usually be mentioned on the official website or reputable cryptocurrency news outlets.

The network distributed 1.162 billion tokens – 11.6% of the supply – to 625,000 eligible users. To date, 87% of addresses, or 543,058, have claimed their tokens. Arbitrum implemented a point system to determine the number of tokens each recipient would receive in the airdrop.

Signs of crypto scams include poorly written white papers, excessive marketing pushes, and get-rich-quick claims. Regulatory agencies, such as your state's consumer protection office or the Consumer Protection Bureau, are the best places to contact if you suspect you've been the victim of a scam.

Unfortunately, no, there is not currently a feature for seeing the history of items sent and received. However, you can view the files that have been sent to you.

How to Identify, If the Airdrop is a Scam or Legit? Check Official Announcements: Always verify whether the airdrop is announced on the project's official website and its social media channels. Authentic projects will publicly list their airdrops.

With hundreds of fake Arbitrum airdrops and scams going around, the project's community and some blockchain security companies cautioned users who want to make free money to be vigilant and careful of such fraudulent websites claiming to share airdrops.

Arbitrum, a prominent Layer-2 scaling solution for Ethereum, has airdropped a total of $120 million worth of its native ARB tokens to Decentralized Autonomous Organizations (DAOs) within its ecosystem.

Of the 625,000 total eligible wallets, 445,000 received an airdrop of fewer than 2,000 ARB tokens, representing the majority of claimers.

Please note that $ARB cannot be minted or claimed on the Ethereum Mainnet; it is only minted and claimable on Arbitrum One. Block 18208000 on Ethereum Mainnet = September 24th, 2023. Please note that $ARB is no longer claimable.

The minimum airdrop entitlement is 625 tokens, and the maximum airdrop entitlement is 10,250 tokens. Arbitrum calls the airdrop an “official move” into a decentralized autonomous organization (DAO).

Who is eligible for arbitrum airdrop? ›

Qualifying Actions to Obtain Points Arbitrum Airdrop

Bridging funds into Arbitrum One. Conducting transactions during two distinct months. Completing more than four transactions or interacting with more than four different smart contracts. Completing transactions exceeding in the aggregate $10,000 in value.

Scammers often come up with various reasons, such as emergencies, medical expenses, or travel costs. Never send money to someone you've only met online.

Q: Can someone steal my cryptocurrency if they have my wallet address? A: While it's unlikely someone can steal cryptocurrency with your wallet address alone, crypto wallets can be hacked through other means, such as phishing, malware, or social engineering tactics.

Cybercriminals can send malware or viruses via AirDrop, which can infect devices when the victim accepts the file transfer request. Once the device is infected, it can damage or steal sensitive data, causing significant financial harm to kids and families.

A legitimate crypto airdrop never seeks capital investment in the currency. Its aim is purely promotional. On other hand, some crypto scams involve sending micro amounts of bitcoin or other cryptocurrencies to unsuspecting recipients in what is known as a dusting scam.

When someone shares something with you using AirDrop, you see an alert. You can tap Accept or Decline. For most apps, if you tap Accept, the AirDrop will come through within the same app it was sent from. For example, photos appear in the Photos app and websites open in Safari.

Announcement: Companies usually announce airdrops on their social media channels or via email newsletters. User Action: Depending on the type of airdrop, users might need to perform specific actions.